Paytm shares rally 4.2% on positive quarter; loan disbursements at Rs 9,958 crore in Q3FY23

Paytm Share Price: One 97 Communication shares, the parent company of digital payments firm Paytm, soared 4.2% on Monday on the back of positive Q3FY23 numbers. Paytm reported sustained growth in payments and their loan distribution business. Paytm shares touched an intraday high of Rs 574. Currently, Paytm stock is trading around Rs 564 on the BSE, down 71% from its listing price of Rs 1,950 apiece, and down 71.2% from its all-time high of Rs 1,961.05, which it touched on the listing day.

Paytm registered a 357% on-year growth in its lending segment in Q3FY23, disbursing a total of Rs 9,958 crore in loans. It clocked a 330% on-year growth for loan disbursements in the month of December, at Rs Rs 3,665 crore. “Our loan distribution business (in partnership with top lenders) continues to witness an accelerated growth with disbursements through our platform. The number of loans grew 117% y-o-y to 3.7 million for the month of December, and 137% y-o-y to 10.5 million cumulative loans for the three months ended December 2022,” said Paytm’s report.